Getting a Lloyd's of London quote for vacant home insurance. The fact is, most Americans think that Lloyd's of London is an insurance company. This is untrue. Lloyd's of London is an insurance market made up of over 60 "syndicates." For our purposes, these syndicates can be thought of as it's own insurance company each taking all or part of various risks presented to the market.
Lloyd's of London syndicates do provide vacant home insurance and vacant building insurance in the United States. Local P&C agents have to access a surplus lines wholesaler in order to get vacant home insurance quotes from the Lloyd's market.
Vacant building insurance is also a specialty of several syndicates in the Lloyd's market. The most common vacant building insurance is carried on old or abandoned wherehouses where the liabiliy component of the vacant building insurance is more essential than the property or dwelling protection.
Finally, if you get two Lloyd's quotes on vacant building insurance, do not assume they are the same thing, just because they both came from Lloyd's of London. Chances are they are completley different vacant building insurance quotes.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment